Sen. Warren requests financial disclosures from Trump’s crypto czar

Massachusetts Senator Elizabeth Warren, ranking member of the Senate Banking Committee, is asking for White House AI and Crypto Czar David Sacks to back up his claims that he no longer holds any digital assets.

In a March 6 letter to Sacks, Sen. Warren suggested US President Donald Trump and “other private individuals” would directly benefit from the executive branch’s digital asset policies. She expressed concerns about Sacks’ potential conflicts of interest, requesting he make any financial disclosures with the Office of Government Ethics public and provide information about his purported status as a “special government employee.”

Sen. Warren cited Sacks’ involvement with the administration since Trump announced his appointment as a crypto czar in December 2024. The US president signed an executive order in January to form a working group exploring digital asset regulation — chaired by Sacks — including a US crypto stockpile. 

Trump said at the executive order signing that Sacks was going to “make a lot of money,” suggesting that he would personally benefit from government policies he was overseeing. On March 2, the US president announced he had directed the working group to include XRP (XRP), Solana (SOL) and Cardano (ADA) in the crypto reserve, in addition to Bitcoin (BTC) and Ether (ETH), which Sacks held but claimed to have sold before Jan. 20.

Related: David Sacks laments US government’s sale of Bitcoin

“President Trump’s March 2 announcement, and your ensuing announcement on March 6, have created confusion about the Administration’s crypto plans, and raised serious questions about your history of crypto investments — including investments in all five tokens the President initially proposed for inclusion in a ‘strategic reserve,’” said the Massachusetts senator, adding: 

“Despite your public statements via X, it remains unclear exactly when you personally divested from BTC, ETH, and SOL, when Craft Ventures divested from Bitwise, and whether people close to you ‘may have held positions and sold into the recent price surge.’”

Many lawmakers and industry leaders have also criticized Trump for his potential conflicts of interest in launching a memecoin. Sen. Warren pointed to a Feb. 27 statement from the US Securities and Exchange Commission saying it no longer considered memecoins as securities, implying the agency — under an acting chair chosen by the US president — took action to directly benefit Trump. 

Sen. Warren requested Sacks provide answers to her questions no later than March 14, also suggesting that he consider speaking on the issues at the White House crypto summit. Industry leaders and crypto CEOs — some of whose companies have recently had investigations or enforcement cases dropped by the SEC — will be attending the March 7 event.

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